Sahil Vachani, MD & CEO of Max Ventures & Industries, on Monday said that there has been an overhang of unsold inventory in the National Capital Region (NCR).
Sahil Vachani, MD & CEO of Max Ventures & Industries, on Monday, said that there has been an overhang of unsold inventory in the National Capital Region (NCR).
In an interview to CNBC-TV18, Vachani said, “Real estate is a focus area for us, moving forward. We have already delivered close to a million square feet of leasing in our commercial real estate space and we have stated our objective to grow the commercial vertical.”
“In addition, we have taken a strategic decision to enter the residential space. We believe that the market opportunity and the time is right for a brand like Max for the NCR market with the trusted credibility, reputation and track record that we have already delivered to bring to the residential space. I believe we will be able to offer a differentiated and sustainable experience to all our consumers,” he said.
On the NCR market, Vachani said, “There has been an overhang of unsold inventory in NCR, but the inventory that is stuck is of those developments that are not complete of the developers that are either bankrupt or are unable to complete those developments.”
“However, quality developments, particularly with trustworthy brands, we find that the off-take at the end consumer demand is very strong. So, we are hopeful that with the quality of developments that Max does, as we have demonstrated across Max Towers and our second development Max House in the commercial space, we will be able to translate this to the residential space as well.
For the entire management interview, watch the video